The worst bond trader in history? The Federal Reserve. They bought trillions in Treasury/Mortgage bonds in 2020 when yields were at all-time lows. By this June, they had amassed $878 billion in unrealized losses. And that was BEFORE 10-year yields surged above 5% & mortgage rates above 7%. You couldn't lose this much money if you tried.
— Charlie Bilello (@charliebilello) October 13, 2026
Tuesday, October 13, 2026
The worst bond trader in history? The Federal Reserve.
